Canada prepares for open banking

Broten said there is an expectation that the government will provide an update on the second part of the open banking legislation this Autumn alongside the Fall Economic Statement. “We hope it releases a comprehensive implementation plan (including draft regulations) allowing a meaningful rollout of open banking to unlock its full potential including common rules, clarity on scope, technical standards, non-functional specifications upfront and how small businesses will be included within the original purvie ...